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Direct MessagesDate/Time: Sat, 04 May 2024 16:45:26 +0000
[User Discussion] - Does AMP invest excess funds and how?
View Count: 18309
| [2020-07-17 02:02:05] |
| user2837 - Posts: 76 |
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AMP appears to be a generally recommended broker for Sierra futures order routing. Does anyone know what they do with excess funds? I am thinking of brokerage accounts that are not active or use minimal leverage, leaving excess funds in the hands of the broker. If they invest or trade with excess funds, does anyone know how and how safely?
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| [2020-07-17 03:50:27] |
| seandunaway - Posts: 213 |
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https://www.cftc.gov/MarketReports/financialfcmdata/index.htm https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=878de60c5a37aa979628ec301444c319&mc=true&n=pt17.1.1&r=PART&ty=HTML Date Time Of Last Edit: 2020-07-17 04:09:46
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| [2020-07-17 10:36:42] |
| bradh - Posts: 854 |
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I am curious about the answer, but I am not willing to spend the time reading government reports. A simple yes or no would be nice.
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| [2020-07-17 11:13:15] |
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One thing we are fairly certain of, is they certainly could not all be trading with excess funds. Common sense is that would be wholly not allowed and would be very illegal to be using customer segregated funds for that purpose. Any clearing firm holding money on behalf of customers, doing any type of trading or investing beyond holding US treasuries (For USD denominated accounts) using customer segregated funds, would be quickly shut down. The segregated funds for customers would only be held in short-term US treasuries. Although thinking about this some more, when MF Global went down, they were exposed to Greek sovereign debt (At least we think so). Was any customer segregated funds being used to invest in Greek sovereign debt? It does not make sense that would have ever been allowed. We think probably what happened, is their own corporate funds were being invested in the sovereign debt of that country. But were customer segregated funds with MF Global left intact? We do not think so because even the CME we think had to bail them out partially. For further information, refer to: https://en.wikipedia.org/wiki/MF_Global But one thing is for certain, these are very treacherous times that central banks and governments are simply going to make up for the shortfall between expenses, and tax incomes, purely by money printing. We are going to be seeing excessive inflation and everyone is going to be paying for the endless government spending going on. It is best to hedge by investing in gold. Now central banks have suppressed the price of gold (Gata.org), but they cannot keep that scheme up indefinitely. And gold is rising. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-07-18 22:07:34
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| [2020-07-17 12:24:28] |
| user2837 - Posts: 76 |
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The CFTC table of Futures' Brokers is quite interesting. No better place for those of us playing with AMP to find out whom we are competing against. One does get the sense the commission business is a pretty good one. Sierra is among the true engineering firms that attempt to give a straight answer to a straight question every time. Much appreciated and I wish you every success. |
| [2020-07-17 21:05:09] |
| User13668 - Posts: 291 |
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All the answers can be found on Amp's website - but in summary they invest customers segregated funds ONLY 100% in cash (unlike some other brokers). https://www.ampfutures.com/cftc-rule-1-55-reporting/ Specifically from this URL, open the 'Disclosure Document amended', go to page 4 and read the last paragraph before the heading 'Material Risks'. But you should also generally read the other documents in these links and famililiarise yourself with AMP. |
| [2020-07-18 14:37:12] |
| Marmany - Posts: 303 |
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Unfortunately whatever it says on a website or government report does not count for much when illegal activity is involved. I had money with PFG when it went bust: https://en.wikipedia.org/wiki/Peregrine_Financial_Group Also MF Global and a spread bet operation, Blue Index when they went under. Most of funds were retrieved in each case, but it is a lot of hassle and can take years to resolve. Consequently I now keep funds with a broker at the minimum level to meet current day trade margin requirement. For info currently with AMP and find the service excellent. |
| [2020-07-18 15:12:42] |
| User90125 - Posts: 715 |
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I am curious about the answer, but I am not willing to spend the time reading government reports. A simple yes or no would be nice.
Perhaps. But if it's your $$$ at stake, a little extra due-diligence goes a long way. :) |
| [2020-07-19 14:05:39] |
| cmet - Posts: 537 |
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https://www.ampglobal.com/about/legal/safety_funds.html
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| [2020-07-19 14:23:43] |
| Marmany - Posts: 303 |
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Post #9 relates to AMP Global their CFD operation in Cyprus. Futures trading is via AMP Global Clearing based in Chicago. |
| [2020-07-19 14:30:11] |
| cmet - Posts: 537 |
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Here's U.S. See Page 7 for Investment of Customer Funds https://ampclearing.quick1fr.com/GetFile.ashx?fileId=87e04915-3819-46d6-a9f7-b7fc2d0d84ec |
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